Ripple now registered as a Wyoming business
"More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly laws," said Caitlin Long. Blockchain-based payments firm Ripple Labs has now registered a business in Wyoming.According to records from the Wyoming Secretary of State, Ripple Markets WY LLC’s status as a local business is listed as "active" after an initial filing in February 2020. As a limited liability company in Wyoming, Ripple’s registered agent will be based in Cheyenne.“More crypto companies are realizing Wyoming is a better domicile than Delaware due to our crypto-friendly....
Related News
While Wyoming was luring crypto businesses, such as Ripple Labs, New York’s AG was bringing enforcement action against Bitfinex. The United States is divided politically these days into red states and blue states, and increasingly, it seems to be fracturing into cryptocurrency-friendly and crypto-wary locales, too. On Feb. 21, it was revealed that San Francisco-based Ripple Labs had registered as a Wyoming business. Wyoming is arguably the most blockchain and cryptocurrency-welcoming state in the United States. Meanwhile, several days later, New York State’s attorney general announced a....
San-Francisco based bitcoin exchange Coinbase will be soon stop servicing customers in the state of Wyoming due to Wyoming Division of Banking’s regulatory standards that will make business in that state impractical, the company stated on their blog. The announcement reads: The state’s recently introduced Wyoming Money Transmitter Act requires services to hold a 25% fiat reserve in order to operate by law. This means they must cover at least a quarter of the amount of reserves in fiat. “Coinbase is indefinitely suspending its business in Wyoming.” With bitcoin being a relatively volatile....
After rumors of Coinbase not working for users located in Wyoming, Coinbase has since come out with an announcement that they will be indefinetly suspending service to users in Wyoming. This comes from an issue with The Wyoming Division of Banking in which recently communicated regulatory policy causes uncertainty for the legality of digital currency operations. Coinbase, in their post stated: “Although we strive to provide continuous access to Coinbase services, Coinbase is indefinitely suspending its business in Wyoming. The Wyoming Division of Banking has recently communicated....
San Francisco-based bitcoin company Coinbase has suspended operations in Wyoming until further notice. A company blog post cited the Wyoming Division of Banking's recent regulatory legislation as a decisive factor for ceasing business in the western US state, noting it would render continued operations impractical. "We understand that the Wyoming Division of Banking interprets the Wyoming Money Transmitter Act to require licensure of entities which offer hosted bitcoin wallet services, and that as a condition of such licensure, licensees must maintain dedicated fiat currency reserves in....
On 9th February, a group of Republican and Democrat representatives and senators, put forward a bill that may end the ban on Bitcoin and other cryptocurrency exchanges in the US state of Wyoming. Bitcoin Ban. Despite the growing acceptance of Bitcoin as a legitimate means of transaction and the increased usage of the cryptocurrency by businesses and customers alike, in Wyoming, as of mid-2014, nearly all trading of not only Bitcoin, but all cryptocurrencies, has almost completely ceased. This is due to the Wyoming Money Transmitters Act that was introduced in Chapter 22 of Title 40 - Trade....